losangelesnewstoday.com April 26, 2018

Taiwan's manufacturing sector made steady gains in March

04 April 2018, 01:09 | Katrina Lee

Strong Canadian manufacturing growth maintained in March

GBP/USD – Pound Higher, US ISM Manufacturing Dips

It marks the 19th month of consecutive expansion of Singapore's manufacturing sector. According to Markit Surveys, the PMI manufacturing survey for March came in at 55.1, well above the 54.7 that had been predicted by analysts; the February reading, however, was revised downward to 55.0 from 55.2.

New order growth reached a four-month high in the month as new export orders recovered from a contraction seen in February.

"U.S. factories reported a strong end to the first quarter, with the PMI advancing to a three-year high".

The further easing in the headline PMI mainly reflected slower growth of manufacturing production and incoming new business, both of which rose to the lowest extents since November 2016.

Euro zone economic growth has already peaked, a Reuters poll found last month, but the European Central Bank will probably decide this summer to slash its bond purchases if things develop as expected, policymaker Ewald Nowotny said last week.

A PMI published earlier on Tuesday showed growth in euro zone manufacturers slid to an eight-month low in March, although they continued to outpace their British peers.

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New work placed with Chinese manufacturers did increase in the month, but the pace of that expansion has slowed as the country faces "muted" foreign demand.

"Clearly, the big question remains what the PMI will do next: the level is still good but the trajectory needs to stabilize in April", said Greg Fuzesi at JP Morgan. "Manufacturing should therefore make another substantial contribution to GDP growth in the first quarter, and the presence of sustained inflationary pressures will be welcomed by policymakers", Williamson adds.

A new Commerce Department report on US construction spending showed it increased just 0.1% in February from January's revised level.

"Price pressures continued to escalate, with both input and output prices rising at faster rates".

Amid reports of lower demand from global markets, new export orders declined for the second consecutive month in March. The peso's depreciation against the US dollar didn't help matters either. However, the degree to which output rose was modest and the weakest since October.

The data for March has shown slowing levels of manufacturing activity across the currency bloc, in some cases by more than forecast.

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